There is a need for a affordable electric vehicle (EV) to attract more mainstream drivers. Andreas-Christoph Hofmann, VP of marketing for Hyundai Europe, has suggested that a smaller and more affordable version of the Ioniq 2 is being developed, with a target price of around 20,000 euros.
It is believed that a new car will be made using a cost-effective platform, resulting in a profitable product. Additionally, this affordable car is expected to have a greater driving range compared to the first generation Nissan LEAF.
The new EV is expected to have at least 250 miles of range. It will be a part of Hyundai’s next-gen IMA platform revealed during its 2023 investor day. Hyundai says the IMA “is a significant advancement” over its current (E-GMP) platform that will help reduce costs.
Hyundai’s IMA will power 13 new Hyundai, Kia, and Genesis EVs through 2030. The platform can be used for “nearly all vehicle classes, ranging from small and large SUVs to pickup trucks.” It will also be used for a new flagship Genesis model.
Hyundai is already developing affordable EVs. It announced the new 2024 Kona Electric will be one of the most affordable EVs in the US, with starting prices under $33,000.
The company is doubling down on its plans to become a top three EV maker by 2030. The Hyundai Motor Group (including Kia) plans to sell 3.6 million EVs by the end of the decade. The automaker is off to a strong start with its first batch of dedicated EVs, including the IONIQ 5 and IONIQ 6.
Reference- Electrek, Clean Technica, TheKoreanCarBlog, HT Auto, Autocar India